How to GROW Your Cash! 💸
Podcast: Chew on This - Digestable DTC ContentPublished On: Thu Apr 25 2024
Description: In this episode of Chew on This, Ron and Ash are joined by CEO and Co-Founder of Brightflow AI, Robbie Bhathal! Their conversation provides valuable insights into financial literacy, cash flow management, and leveraging financial services for business growth. It underscores the importance of understanding accounting principles, balancing the balance sheet, and planning for cash flow predictability to avoid financial challenges. Additionally, they discuss the challenges of managing a growing team in a remote work environment and the potential of AI in forecasting for better financial planning. Robbie encourages all founders to be open and spend time analyzing financial numbers for improved decision-making and risk assessment. 0:00 - Intro 1:45 - Financial literacy for brand building. 4:00 - Access to capital for small businesses. 6:00 - Importance of finance in forecasting and operations. 8:00 - Revenue vs. actual cash flow. 11:19 - Financial tools for business success. 15:20 - The significance of cash flow predictability. 19:03 - Financial services for better cash management. 26:56 - Accounting as a science for obtaining financing and leveraging distribution. 28:10 - Balancing the balance sheet with inventory, debt, and invested capital. 29:00 - Planning for cash flow predictability to avoid liquidity traps. 30:07 - Creative ways to manage cash flow and debt. 32:02 - Inward growth and small tests for financial stability. 33:01 - Scaling financial services and accounting statements. 41:00 - Challenges of managing a growing team remotely. 45:01 - AI vs. human advice in finance. 47:06 - Importance of being open with your financial numbers. Sponsored by: 📊 Motion - Motion will take your creative game to the next level. It allows all media buyers/marketers to do an in-depth creative analysis and create multiple reports which, otherwise may not be possible on the ads manager itself. 🔗 https://motionapp.com/chewonthis 📨 Sendlane - Tired of paying for hosting unnecessary contacts on your email list? Thats why we switched to Sendlane where we are only charged for the number of contacts we send to. You will unlock huge savings by signing up with them. 🔗 https://sendlane.com/chewonthis Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc
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